That didn't degrade this quickly! This is one pos ETF at the moment and feel bad for those who got locked in and didn't pull the sell trigger. Oh well,it can be a write down if bought on a cash account. That's the only bright side.
No need to make excuses for this pos. It deteriorates as fast as leveraged ETFs. Trust me! Or hang in there and see how well you do compared to the wti which it is supposed to track. This isn't rocket science.
Capitulation means you've hit rock bottom, so you should be buying at that time. I say we are not there yet and that is why Pickens got out. Expect capitulation around 20 for crude oil.
The bottom hasn't been hit just yet. More pain to come for the bag holders but don't sell as it will turn around and recover to mid 30s end of year. Sorry.
Wait and see, there's more bloodshed coming. Do I want it? A BIG FAT NO! BUT IT'S GOING TO HAPPEN. Trust me.